Warnings of AI bubble: Nvidia's record figures do not reassure financial markets
Nvidia's unexpectedly positive business figures have only triggered temporary euphoria in the financial markets. Even Nvidia shares went into the red.
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The euphoria over Nvidia's unexpectedly good business figures only temporarily stimulated the financial markets; the major US stock indices ended Thursday in the red. Even Nvidia shares eventually fell back, giving up most of their gains. Bitcoin, meanwhile, lost over 7 percent of its value and is currently trading at around 86,000 US dollars. According to the financial agency Bloomberg, it was the most dramatic intraday reversal since spring, with traders searching for an explanation. It was frequently pointed out that concerns about an AI bubble were not dispelled by Nvidia's figures.
The guessing game followed a day that had actually started unexpectedly well. The reason was the business figures from Nvidia; the semiconductor manufacturer was able to increase its revenue in the last quarter by 62 percent to 57 billion US dollars. This was significantly more than expected, and as a result, Nvidia shares jumped by more than 4 percent. The rest also looked good at first before the mood suddenly turned. The trading day ended for Nvidia with a loss of over 3 percent; other tech stocks also fell, with AMD being particularly hard hit with a daily loss of almost 8 percent. Intel shares also fell by more than 4 percent.
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As has often been the case in recent weeks, developments in the financial markets had even more severe consequences for cryptocurrencies. After the Bitcoin had fallen below the 90,000 US dollar mark for the first time in months at the beginning of the week for the first time in months fell back below the 90,000 US dollar mark, it now fell noticeably again. Currently the price is trending around 86,000 US dollars, 7 percent less than 24 hours earlier. The price had actually stabilized at around 92,000 US dollars recently. Thursday's developments illustrate that concerns about an AI bubble that could burst cannot be dispelled by Nvidia's continued immense business success alone.
(mho)
